事实上在过去的18月里长期利率维持稳定，它表示在日本公共债务稳定性这个问题上风险溢价正在上升。

“The fact that the long-term rate has generally been flat for the last 18 months suggests the risk premium is rising on questions of the sustainability of Japan’s public debt, ” he says.

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麦金农的负风险溢价理论说明，在流动性陷阱的情况下，日本银行业很难赢利。

Rishi Goyal sand Ronald Mckinnon theory of negative risk premium shows that Japans banks are hard to make profit under the circumstances of liquidity trap.

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